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Bitcoin Price Watch; Looking Ahead to the Weekend

Submitted by dailybitcoinnews on Fri, 06/10/2016 - 14:22

Here’s what we are focusing on for this evening's session in the bitcoin price.

(click image for large size)

The week has now drawn to a close out of Europe, and it’s time to put together our final analysis of the week. Action throughout today’s session has been pretty much as it has been across the entire week – that is, flat wit ha little bit of intrarange movement, but far from anything overtly tradable. We defined our range in this morning’s analysis with about eight or nine dollars to play with, and so intrarange has been an option throughout the day, but without any real sustained movement, we’ve not even been able to get in short term. With this in mind, we are going to have to approach this evening’s session out of Europe with pretty much the same parameters in focus. Over the weekend, the hope is that these parameters will come into play a little more aggressively, and that we can get in on a proper breakout trade.

Until that point however, and until volume out of Asia kicks in properly, let’s take a look at what we are watching this evening. The chart below highlights the action seen throughout today’s session, and offers up our key levels going forward. It’s an intraday chart with a fifteen-minute candlestick timeframe, showing the last forty eight hours or so worth of action in the bitcoin price.